The government's move to increase the service tax rate and expand the scope of taxable services is expected to generate more revenue for the government and improve the country's financial…
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Additionally, the government will expand taxable services to include logistics, brokerage, underwriting, and karaoke services. Taxpayers in other income categories will be implemented in phases, with a comprehensive implementation targeted by 1 July 2025.#Malaysia govt plans to raise service tax from 6% to 8% but it does not include services such as food, beverages and telecommunications, says PM Anwar Ibrahim during tabling of #Budget2024 in Parliament todayhttps://t.co/4g5yAuTGTP
Budget 2024: Part of the subsidy savings will be channelled directly to increase the allocation of cash assistance through Rahmah cash contributions from RM8 billion to RM10 billion – PM Anwar #BernamaBiz #Budget2024 Therefore, the government seeks to generate more revenue through various means, including increasing taxes on certain goods and services.
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